The U.S. Manufacturing Technology Orders report for March 2016 showed a 36.9 percent increase in orders compared to February, but an 11.8 percent decline compared to March 2015 and a 15 percent drop in orders year-to-date compared to the same point in 2015. AMT VP – Strategic Analytics Pat McGibbon says this uptick for March is typical, but not yet a signal of a broad upturn.
One reason for an uptick in March orders is attributable to the fact that many manufacturing technology companies close their fiscal year March 31, driving sales to reduce inventory and deliver orders. But challenges remain in soft international markets and low commodity prices.
The market for manufacturing technology orders is likely to remain flat through summer and then turn upward by September, just about the time IMTS – The International Manufacturing Technology Show 2016 opens. The end of 2016 should finish strong, though overall still lower than 2015, with a robust 2017 anticipated for manufacturing.
If you would like more insight into economic conditions for the manufacturing technology market, join AMT for the 2016 Summer Economic Update Webinar, July 21, 11:00 a.m. to 12:00 p.m.
Read the full USMTO press release.